Non-fungible tokens (NFTs), the financial securities consisting of digital data stored in a blockchain, can be used in trade-based money laundering (TBML) operations according to Niels Obbink, chief and general director of the Fiscal Information and Investigation Service, the Dutch… Read More ›
Sophisticated modern tools such as blockchain and artificial intelligence offer opportunities to see and analyse information and root out illicit trade according to a US senator who for years has been calling for more action to curb trade-based money laundering… Read More ›
The UAE has launched a blockchain-based trade finance platform aimed at curbing double-financing and misinvoicing. UAE Trade Direct then intends turning to other key areas of trade finance, such as digitalising bills of lading and e-invoices and, in time, expects… Read More ›
Commodity trade finance blockchain platform Komgo and specialist trade finance fintech Mitech have announced a collaboration to allow users to create an immutable document to guard against fraud and falsification. The collaboration will also provide users with straight through processing… Read More ›
Maritime and regulatory technology provider Pole Star and Envoy, which harnesses blockchain technologies to bring efficiencies to global supply chains have teamed up to offer compliance screening and vessel tracking. By using Pole Star’s PurpleTRAC regulatory technology solution, Envoy says its… Read More ›
North Korea continues to import and export goods despite extensive sanctions imposed on it by using trade-based money laundering (TBML) techniques and finance from a US$1.5 billion cryptocurrency war chest according to experts who participated in a webinar organised by… Read More ›